Hotel Rates in Top U.S. Markets Outpace Inflation
Skift Take
Hotel rates in the top U.S. markets have risen significantly, with higher-end hotels raising prices the most, affecting travelers' choices on destinations and trip duration.
The DJIA was up 17 points while Nasdaq was up 70, the S&P 500 rose 24 points, and the 10-year treasury yield was up .05 to 3.80%. Lodging stocks did not get the memo that they were supposed to rise today. With the exception of the 8% rise for SOND, it was pretty much red all over our lodging stock screen today. Out of the biggest movers, SVC was down -6% while SHCO fell -5% on the day.
Truist reported on a webinar they held with corporate travel data company TRIPBAM/Emburse, a company with forward-looking business travel booking & pricing “big data” from over 50 million hotel bookings and more than $45 billion of spend. The highlights include that they see booking volumes strong in the individual/transient segment they follow. The company sees double-digit growth, which is expected to continue into next year. U.S. business transient room nights as of mid-September were up 21% year over year for the trailing 30 days compared to th
